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Toronto slides

  1. 1. Flintstones to the Jetsons: How to Implement a Compliant Corporate Social Media Strategy And Live To Tell Others! April Rudin, The Rudin Group
  2. 2. Where Are We Now? • Wealth management firms have not felt serious pressure until now due to best clients being oldest clients and thus, perceived as the least likely to use new technology including mobile internet and social networks • Wealth Management is a “person to person” industry—Fiduciary Trust • Older FA’s are typically the ones with the biggest book of business • Babyboomers (ages 55 +) are the largest group of wealth holders • Wealth is being created at a younger age and Babyboomer succession planning is contributing to this phenomenon .
  3. 3. Branding In Financial Services • Financial services’ brands create the security, consistency and trust with the target market and are developed at the corporate level but must be executable at the local level or the brand loses value • Strong corporate brands (especially in financial services) lead future clients away from making decisions based on price when other more meaningful differences between brands are communicated
  4. 4. Extending the Brand and Other Strategies • Branding can be extended from one or more core products to others. For example: one might offer wealth management services and partner with other service providers in insurance products, etc. • Partnerships and strategic alliances are ways of extending your brand and gaining access to “warm leads” and pre-vetted future clients • White-labeling is another brand extension strategy where additional products or services are offered from the outside but under the same brand. • Naturally, brand extensions must be logical and fit with the given brand and business model but can provide additional revenue streams
  5. 5. Converting Chaos to Calm
  6. 6. Social Media Jargon